Global 3D Printing Materials Market to Expand at 15% CAGR by 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/28/2017 -- Zion Market Research has published a new report titled "Global 3D Printing Materials (Ceramics, Plastics, Metals and Others) Market for Electronics & Consumer Products, Automotive, Medical, Industrial, Education, Aerospace and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020" According to the report, the global 3D printing materials market was valued at approximate USD 500 million in 2014 and is expected to reach around USD 1,400.0 million by 2020, growing at a CAGR of above 15% between 2015 and 2020. In terms of volume, the global 3D printing materials market stood at around 2,250.0 tons in 2014.
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3D printing materials are basically used to convert digital data into a 3-dimensional solid object. A 3D object can be created using additive manufacturing process. Successive layers of material are formed under computer control in the additive manufacturing process. In the real sense, 3D printing refers to processes that sequentially deposit material onto a powder bed with inkjet printer heads. Different types of raw materials are used in 3D printing technology such as metals, plastics, polymeric amide (nylon), wax, ceramics, and others. Each and every material has its own features and quality includes high sensitivity, flexibility, stability, and durability. Key technologies basically used in 3D printing such as fused material technology and reactive material technology.
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The 3D object can be created using additive manufacturing process. Successive layers of material are formed under computer control in the additive manufacturing process. In the real sense, 3D printing refers to processes that sequentially deposit material onto a powder bed with inkjet printer heads. Key technologies basically used in 3D printing such as fused material technology and reactive material technology.
Demand for 3D printing materials is driven by increasing use of 3D printing technology. 3D printing is used in a number of industries such as footwear, automotive, architecture, aerospace, electronics, and consumer goods. Materials such as plastics, ceramics metals among others used in 3D printing technology play an important role in the overall process as they transform a digital file into a physical, tangible object. 3D materials produce high-precision components similar to traditionally-manufactured components. However, higher cost of 3D printing materials is expected to arrest the growth of this market.
3D Printing Market
Ceramics, plastics, metals, and others are the key products segments of 3D printing materials market. Plastics dominated the global 3D printing materials market with the large share in total volume consumed. Plastics accounted for over 40% share of the total volume consumed in 2014. Plastics segment is also expected to exhibit fastest growth rate during the forecast period. Ceramics was the second largest product segment in 2014. Metals and others segment also expected to witness significant growth in the years to come.
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On the basis of application, the global 3D printing materials market can be segmented into electronics & consumer products, automotive, medical, industrial, education, aerospace and others (Military/architectural/government). Electronics and consumer application segment accounted for over 20% share of 3D printing materials market in 2014. Automotive application market for 3D printing is estimated to be the second fastest growing market between 2015 and 2020.
Global 3D printing materials market was dominated by North America in 2014, followed by Asia Pacific and Europe respectively. North America accounted for over 35% share of the total volume consumed in 2014. However, Asia Pacific is expected to be fastest growing market during the forecast period. Furthermore, rising industrial activities in fields of electronics, building & construction and industrial in South Korea, China, and Japan are expected to propel the 3D printing materials market in the region.
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Some of the key industry participants in global 3D printing materials market include Stratasys Ltd. (U.S.), ExOne Gmbh (Germany), SLM Solutions GmbH, Voxeljet AG, Concept Laser GmbH, Arcam AB, and 3D Systems, Inc.
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